Hi all,
I am in the process of buying retail store in London for 10 years running . I know people from 8 years and has 5 to 6 stores similar business. They want to reduce the management and take some time off .
Want to sell one of the store retail sales success . Buying retail is running for 10 years and turnover is around 265K . Gross profit is 100k. and the network is 40k.
They are asking 110k which includes the stock of 50k and the rest of royalties.
Business Transfer is found in about ownership and rental rates 8k 22k .
I want to secure funding for which I have applied to one of the banks will get back to me within 1 to 2 weeks time.
I am looking for approx. 50k to 80k of loans secured by residential real estate of my own .
I am looking for the first option is just pure interest only loan for 5 years @ 5 %
or
Equity stake in the business in accordance with the funding.
I am currently working in the financial industry and I want to take care of this business running. Any help or any point in the right direction is appreciated.
thanks
